Tag: selling your invention

Every Inventor is different, no two think the same way or do the same things, they’re like islands and are often a law unto themselves. But what truly drives a successful inventor to reach their ultimate goal, there’s got to be something right?

Well for me, it was to go down my own road in order to find a way to fulfil my potential other’s felt I didn’t possess, you know, the naysayers and the bullies, those who at times during my school days tried to influence my mind to be submissive and negative. Those experiences were tough, but without them I really don’t think I would have had the motivation to develop multiple products and invent a different life for myself – one that those bullies would have hated.

There have been many motivators that have led me to the life and business success I enjoy now, but in a period where my focus has been on Anti -Bullying week (UK) it led me to go back in time and visit the life I used to inhabit as a child, where it wasn’t all rosy in the garden. Here’s a few questions I have answered for local and national press sources… Continue reading “What Drives An Inventor To Come Up With A Life Changing Product?”

Many of you reading this, I am sure, have most likely thought up at least one amazing idea in the past that could have solved some problem you encountered, and I am also quite sure we all know more than a few people who have claimed the same thing, but who do you know that has actually nailed one and sold it?

The reality is, that even good ideas are quite easy to generate, they are ten a penny. Granted, some are incredibly clever and impressive to listen to, but more often than not, that’s just how they stay, as ideas!

Would you agree with me if I suggested that these ideas don’t go anywhere because they are fun to develop in our minds, but in reality far too difficult to bring to life?

You may be surprised to learn that 4,999 out of every 5,000 patented inventions don’t sell, and the reasons are similar, inventors simply love to tinker (it’s what we do) and put off the important stuff like figuring out how to sell it (despite paying up to £6,000 in initial patent fees)

As a seasoned inventor of 20 years who has over 80 patents to my name that protect over 500 of my products, I know exactly how to sell an idea and how not to. And although it would fill many pages to explain it all in the detail required, I hope you can at least understand the basics in the next few paragraphs.

How to sell your idea

The idea itself is only 10% of what is needed in order to sell it, the other 90%, which is perceived as being less fun, should be where most of your time is dedicated – and truly, I can assure you it really isn’t as hard as you may think.

Here’s your motivator:

As the cost of applying for a patent can set you back between £3,000 – £6,000 to start the process, you then have 12 months to convince someone to pay you for your idea before you are faced with the option to extend your patent protection into other territories (which equates to several thousands of pounds more).

Quite simply, if you haven’t started to monetise your idea in this 12 month patent time frame, you are likely to go into debt, unless you have money to burn.If that doesn’t serve as a motivator then nothing will

Become business minded

Selling your idea might mean licensing the patent to a company to manufacture and sell it, or you could sell the patent outright. I chose to manufacture my first product and sell it myself, simply because the others would eat up my time.

Whichever option you wish to proceed with, you have to speed up the process and polish your product, give it a name and a character (features & benefits) and frame it in the best packaging you can find – then smarten yourself up, (in business clothes) and practice your pitch. No one will take you seriously if you bring a dull version of your product and yourself to your target audience, it will be seen as an insult, or come over as sloppy.

The more business minded you become the more value you add to your idea, and the better chance you have of securing your first customers, or that elusive investor, it’s as simple as that.

Then selling becomes easier.

Of course you have to pick up the phone, knock on doors and shout about your product (which isn’t an idea any more) until you convince someone to part with their money. Call your local newspaper and radio station and hit the social media channels, do what you can to get word out there – this will be far easier to do when you have something tangible in your hands to proudly shout about.

To put this into perspective, here’s what you should avoid if you want to successfully sell your idea:

How not to sell your idea

In order not to sell your idea, do one or all of the following:

Tinker with your design for 12 months (because you are an ‘ideas person’, not a marketer) and make it look perfect (even though everyone but you knows that perfection never comes)

Ignore the 12 month patent clock because you are different, and it will work itself out

Stand in front of a potential investor or customer (if you somehow attract one) wearing your casual clothes (because that’s good enough for James Dyson) holding your proto-type, and expect them to work out what it does, because you are still only the ideas person.

Re-mortgage your house, or borrow money from friends or family because you are on the verge of something big.

As harsh as the above comments sound, this is exactly how most inventors behave – and why only 1 in 5,000 ideas make back the cost of their patents.

“If you’re at the stage of looking at ideas to patent, consider inventing a better “rudder” before taking on the “ship,” it might save you a lot time, money and heartache.”

There is this false belief that as soon as an inventor comes up with their killer idea they must get it patented before it’s ripped off by a mega corporate company. And, although I can’t say that having ideas copied won’t ever happen if patent protection isn’t secured early in the process, I would simply urge anyone setting out with a goal to making a career out of inventing to (1) weigh up what might be realistic to patent and (2) when to actually apply for the patent, here’s a story that I hope will make you think about it from another perspective…

Ever dreamed of developing your own products based around some ideas you thought up, with the romantic notion to set up your own business to promote and sell them, but didn’t have a clue how to get started?

As a person who succeeded in creating world-class, print related products from my garage before selling them world-wide, I believe the tough lessons I learned along the way gave me the knowledge and insight to help any creative person with passion and desire to forge a similar path.

It’s a fact that the invention itself equates to only 10% of what is needed to get it sold, the other 90% is down to other more important factors, like implementing marketing and sales techniques to get it in front of the right people. And with 80 patents already to my name and hundreds of products selling through global channels, here’s my top tips on how you too can make your idea the 1 in 5,000 that actually makes money.

How being lazy and wanting to do less is the perfect way to start your journey as an inventor, but only if you get off your sofa…

It still seems quite surreal to think that I built my own multi-million pound company through inventing a simple product to make my own working life much easier, before mass producing it so tens of thousands of other print workers could do less too. And because I have been through this amazing roller coaster of a journey learning from my many mistakes I am convinced that anyone with the desire to fix problems and change their life in the process can do exactly the same.

Experts tell us that only one in five thousand inventions make back profit for those who created them, and I am living proof that you can beat those dismal odds, just as I did, but only if you strictly apply the kind of methods and strategies I implemented. If you choose to sign up to my blog I can promise that you will think about the process of invention from a refreshingly new and exciting perspective, giving you the confidence to take your idea all the way, if you choose to.

If your an experienced or early stage inventor who’s struggling to get your product to market, or if you have what you feel is a great idea but don’t know the first thing about bringing it to life, congratulations you’ve come to the right place!

My name is Graham Harris, inventor and proud owner of a globally successful business selling my own products through distribution channels I set up myself, and I am happy to share with you exactly how I did it, and more importantly, how you could too.

Here’s the reality, if you don’t build in a plan and a business framework around your invention you will almost certainly see it become one of the 4,999 out of every 5,0000 that fail to monetise. The advice I give you for free, if adhered to, will significantly increase your chances of beating those dismal odds.

Why should I help you, what’s the catch?

There is no catch at all, I’ve been fortunate enough to have developed and brought to market over 500 of my own products over the last 20 years, inventing is second nature to me and I’ve managed to change my life beyond what I could ever have imagined. I’ve simply got to a point in my life where I want to give something back, and I’ll do that by sharing my hard earned knowledge and wisdom through regular blogs. You may reach out to me in the comments sections by asking questions, if you like, which might also prompt me to create more helpful information through my regular posts.

So, if you are prepared to work and learn hard, and if you are willing to rethink the invention process, and implement the strategies I openly share with you, then your odds of success will substantially increase, and that will be thanks enough for me.

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